Alex and Rachel agreed to form a partnership. The partnership agreement requires that Alex invest $3000 more than two- third of what Rachel is to invest. If the partnerships’ capital is to be $55,000, how much should Alex invest?
Accepted Solution
A:
Answer:Alex investment = $ 23,800
Step-by-step explanation:The statement is Alex and Rachel are forming partnership. According to the agreement Alex invest $3000 more than Rachel's two-third investment and the total capital is $55,000.Find out Alex investment.
Let x be the investment of Rachel. Lets make an equation to find the value of x.
x+2/3x +$3000=$55,000
Combine the like terms:
x+2/3x = 55,000 - 3000
x+2/3x = $52000
Now take the L.C.M of L.H.S
3x+2x/3 = $52000
Now Add the values of x.
5x/3 = $52000
Multiply both the terms by 3.
5x/3 *3 = 3* $52000
5x= 156000
Now divide both the sides by 5.
5x/5 = 156000/5
x= 31200
Now calculate Alex investment. According to the statement Alex invest $3000 more than 2/3 of Rachel.
We have found the Rachel investment which is $31200. Therefore we can write 2/3 of Rachel investment as 2/3(31200).
=2/3(31200)+$3000
=2*10400+3000
=20,800+3000
=$23,800
Rachel investment = $31200
Alex investment = $ 23,800
If you want to check whether the investments are correctly determined or not. You can add both the investments and the result will be the partnership's capital amount.
$31200+$ 23,800 = $55,000 ....